YSC, Title 20.  Planning & Economic Development
Chapter 13.  Yap
State Feasibility Study

1301.  Title.
1302.  Purpose.
1303.  Yap State Feasibility Study Program.
1304.  Application for Feasibility Study.
1305.  Guidelines.
1306.  Feasibility Studies.

     1301.  Title.
     This chapter shall be known and may be cited as the "Yap State Feasibility Study Act of 1997".

          Source:  YSL 4-53 1, modified.

     1302.  Purpose.
     The purpose of this chapter is to establish a means for the funding of feasibility studies for the public and private sectors.

          Source:  YSL 4-53 2, modified.

     1303.  Yap State Feasibility Study Program.
     The Yap State Feasibility Study Program is hereby created.  The Program's functions shall be public and private in nature and it shall have the following powers and duties:

     (a)  The Program shall be administered jointly by the Director of the Department of Resources and Development and the Director of the Office of Planning and Budget;

     (b)  The Program administrators shall accept proposals for projects which require feasibility studies from government and the private sectors; and

     (c)  The Program administrators shall issue necessary rules and regulations for the orderly administration of the Program, pursuant to the State Administrative Procedure Act, Title 10 of the Yap State Code.

              Source:  YSL 4-53 3, modified.

              Cross-reference:  The statutory provisions on the State Administrative Procedure Act are found in chapter 1 of Title 10 of this Code.

     1304.  Application for Feasibility Study.
     Applicants who wish to be considered for funding for a feasibility study shall submit a proposal including the following information to the Program administrators:
     (a)  A draft business plan which includes financial projections;

     (b)  A statement regarding the applicant's financial ability to contribute to the funding of the feasibility study, and if able, a statement of the applicant. s commitment to do so;

     (c)  A statement of all foreign interests in the proposed project, and the names and addresses of all foreign interests; and

     (d)  The name and address of the preferred agency to undertake the feasibility study.

          Source:  YSL 4-53 4, modified.

     1305.  Guidelines.
     The Program administrators shall review all proposals received according to the following guidelines:

     (a)  The applicability of the project to the State's sustainable development plan;

     (b)  The project. s relationship to the priority development areas of tourism, fisheries and manufacturing;

     (c)  The overall impact of the proposed project to the economy;

     (d)  The impact which shall include, but not limited to, environmental impact, of the proposed project on the State or on a particular community;

     (e)  The level of involvement that the proponent of the study will maintain in a project; and

     (f)  Any other information that may be required to complete a review and assessment of the proposed project.

              Source:  YSL 4-53 5, modified.

              Cross-reference:  The statutory provisions on Environmental Quality Protection are found in chapter 15 of Title 18 of this code.

     1306.  Feasibility Studies.

     (a)  The administrators of the Program shall pre-approve the agency which undertakes a feasibility study.

     (b)  When determining the agency which is to undertake the feasibility study, qualified local agencies, whether from the public or private sector, shall be given preference.
     (c)  When deemed advisable by the Program administrators, the feasibility study will be funded in phases, with the report for each phase to be reviewed by the program administrators before further funding is released.

          Source:  YSL 4-53 6, modified.